What are the Procedures for Formation of LLP in India

What are the Procedures for Formation of LLP in India


The Ministry of Corporate Affairs (MCA) has made major amendments to the LLP incorporation procedure vide notification dated 18th September, 2018 by introducing a revamped LLP-RUN service (similar to RUN services for Company Incorporation) for Reservation of Name for proposed LLP. Apart from this, MCA has also introduced e-form FiLLiP for registration of LLP.

All the Designated Partners are required to obtain Digital Signature Certificate (DSC) from government recognized certifying agencies and upload the same on MCA website along with scanned copies of Form 9 and passport size photographs. This requirement is because all documents filed online through e-forms in Limited Liability Partnership incorporation are digitally processed and hence, the same requires DSC of all DPs.

It is important for a new LLP to have a legally permissible name. It must end with "Limited Liability Partnership" or LLP and should not contain any words which are prohibited by the Emblems Act. It is important to check whether a name is available for LLP incorporation by conducting a free name search on MCA portal.

After the approval of the proposed LLP name by the Registrar, an e-form LLP-3 is filed by submitting all the required details like capital contribution of each partner, address proof, Incorporation Certificate, DIN number of all DPs and a statement of consent to act as a partner. All LLPs are also required to file an LLP Agreement within 30 days of obtaining their incorporation certificate. This is an essential document which outlines the rights, duties and liabilities of the partners.

 

 Tel:+917299972500

info@filingpoint.com

Comments

Post a Comment

Popular posts from this blog

The Benefits of Private Limited for Annual Filing in Chennai

Image
The Benefits of Private Limited for Annual Filing in Chennai A private limited company is a legal entity with its own identity. Its owner is protected from liability to the company or its creditors. It has the ability to raise funds from venture capitalists or other financial investors. Moreover, it provides the image of a legitimate and safe business to banks and other financial institutions. A private limited company is an ideal choice for a startup. It is quick to start and easy to incorporate. However, it requires a number of steps to ensure its annual compliance. The steps include obtaining a Director Identification Number (DIN) and filing mandatory ROC forms. In addition, a private limited company must also meet certain legal requirements. In the first place, the company must be registered with the Registrar of Companies. This is the entity that will issue the Incorporation Certificate. Besides, a company must circulate its financial statements at least ...
Read more

Software Company Registration Consultants in Goundampalayam, Coimbatore

Image
Call Our Consultants Experts for Software Company Registration in Goundampalayam, Coimbatore at +91 72999 72500 Located in the vibrant city of Coimbatore, Goundampalayam is rapidly emerging as a hub for software companies. For entrepreneurs looking to establish a software company in this region, navigating the legal and administrative requirements can be daunting. This is where professional software company registration consultants like FilingPoint Consultants come into play.   FilingPoint Consultants in Goundampalayam, Coimbatore, specialize in guiding businesses through the process of company registration , offering expert services to ensure a smooth and hassle-free experience. They provide comprehensive assistance, from understanding the initial requirements to completing the necessary paperwork and filing procedures.   How to Register Software Company in Goundampalayam, Coimbatore Consultation: Begin with a consultation to understand the legal structure suitab...
Read more

The Role of Liability Insurance for Startups Operating Under Different Business Structures

Image
Call our filingpoint experts at +91 72999 72500 or visit https://filingpoint.com Introduction: Liability insurance plays a crucial role in safeguarding startups across various business structures. Whether operating as a sole proprietorship, partnership,Limited Liability Partnership(LLP), or Private Limited Company, startups face risks that could potentially lead to financial loss or legal liabilities. At FilingPoint, we understand the significance of looking beyond immediate needs and consulting the choosing a best business structure.   Here’s a breakdown of how liability insurance serves each business structure:   Sole Proprietorship: §   In this structure, the business and the owner are considered one entity. Liability insurance for sole proprietors protects personal assets from business-related claims, including property damage, bodily injury, or lawsuits arising from negligence.   Partnership: §   Liability insurance for partnerships ext...
Read more